Amazon - Surprise estimate beater

The share price surged after the surprise.

What would investors need to know about the latest results?

The company's revenue for the second quarter of 2023 was $134.4 billion, up 11% year-over-year. Operating income was $7.7 billion, up 130% year-over-year. Net income was $6.7 billion, up 220% year-over-year.

The company's cloud computing business, Amazon Web Services (AWS), continued to grow rapidly, with revenue of $22.1 billion, up 12% year-over-year. AWS is the leading cloud computing platform in the world, and it is a major driver of Amazon's growth.

Amazon's advertising business also grew strongly, with revenue of $10.7 billion, up 22% year-over-year. Amazon's advertising business is the second-largest in the world, and it is growing rapidly as more businesses turn to Amazon to reach their customers.

Amazon's retail business also showed signs of improvement in the second quarter. Revenue from Amazon's North American retail business was up 11% year-over-year, and revenue from Amazon's international retail business was up 10% year-over-year.

Overall, Amazon's latest quarterly results were very strong. The company is well-positioned for continued growth in the years to come, driven by its strong cloud computing, advertising, and retail businesses.

DISCLAIMER
The information available in this article/report/analysis is for sharing and education purposes only. This is neither a recommendation to purchase or sell any of the shares, securities, or other instruments mentioned; nor can it be treated as professional advice to buy, sell or take a position in any shares, securities, or other instruments. If you need specific investment advice, please consult the relevant professional investment advice and/or for study or research only.